OfflineAccording to a recent post by AOL. Celeberty homes are feeling the hit. Celeberties suc as Mel Gibson, listed his home in 2007 at 39 million. Dropped to 35 million. Elle Macpherson listed at 19.2 million, dropped to 15 million. Nicolas Cage listed at 35 million, dropped to 17.5 million. After not selling at this price almost half off. The home was taken off the market. This market is not just hitting the middle class but the wealthy also. I feel there is a whole new trend of foreclosures happening. What's your take? Continued success............Lubertha
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"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
are feeling the crunch too. Even extra rich have been leaving well beyond their means also. I'm sure there a great opportunities for people who can play the game with multimillion dollar houses.
There will be another wave of foreclosure coming soon. Check with the bank near you....
Lloyd
The Great Lloyd has spoken............. Music to my ears! Continued success.........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Corect me if I'm wrong. I understand The DONALD is also feeling the affects also! This wouldn't be the same one that is sending me real estate investor invites? Continued success........Lubertha
"Thank God For Dean Graziosi"
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I went to a REIA meeting yesterday and the talk among all the members a mix of Realtors, investors, a couple bankers, and other was that the market is not finished falling and that the decline will continue through 2010. What are your thoughts?
Donna
"Don't tell me I can't, Tell me how I can."
From what graphs I have seen it seams to be at or near the bottom or at least prices have just been holding at around the same levels(At least for houses around $100k price range...
With the tax incentive and the summer buying season nearly over, I am expecting inventories to increase and values to drop more. There is a rumor that banks will be releasing a lot of homes to the market. If this happens, and there is no incentive for consumers to buy, values would have to go down. The National Board Of Realtors is lobying their members to contact their congressmen to extend the tax incentive for another year. I believe for this to work, the bill would need to include all buyers, not just first time homebuyers.
Al
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Thanks for sharing the information about realtors lobbying efforts. I believe if they can extend the incentive to all buyers this will be a great thing based on all the inventory that is projected to hit the market. The Winter is a very slow time in the midwest and I believe the housing inventory will be a bigger jam then "rush hour" on the Dan Ryan Expressway at 5:00 PM! Good luck and continued success. Believe and Achieve!
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